Malaysia

Fintech / Regtech

BNM Issues Draft Guidance on Managing Cloud Risks

By Sanday Chongo Kabange | 05/06/2022

The guidance sets out expectations on the governance processes, design principles, and operational controls FIs should consider when adopting cloud services.

AML / KYC

Malaysia SC Offers Guidance on Detecting Fake Investment Firms

By Editors | 01/06/2022

In one case, approximately $821,000 flowed through one mule bank account controlled by scam operators within a period of six months.

ESG / Sustainability

Bursa Malaysia Advances Work on Voluntary Carbon Market

By Editors | 30/05/2022

Bursa Malaysia has signed an MOU with non-profit organisation Verra, which manages the world’s largest GHG crediting programme.

Securities / Derivatives

Malaysia SC, Labuan FSA to Enhance Supervisory Cooperation

By Editors | 24/05/2022

The MOU will enable the SC and FSA to strengthen collaboration in areas such as risk monitoring and promote capital market stability.

ESG / Sustainability

Bursa Malaysia, CIMB Collaborate to Drive ESG Adoption

By Editors | 16/05/2022

CIMB becomes the fourth bank overall, and first home-grown bank, to collaborate with Bursa Malaysia on its #financing4ESG initiative.

BNM Proposes Rules for Hiring Insurance, Takaful Agents

By Editors | 30/04/2022

Insurers and takaful operators must undertake a due diligence process that includes reference checks with all of an agent’s current and former employers.

Fintech / Regtech

BNM Awards Digital Bank Licences to Five Applicants

By Editors | 29/04/2022

The licence winners include Axiata’s Boost Holdings, RHB Bank, Grab-Singtel’s GXS Bank, Kuok Brothers, Sea Limited, YTL Digital Capital, AEON, MoneyLion, and KAF Investment Bank.

BNM Finalises Conduct Requirements for Financial Advisers

By Ranamita Chakraborty | 29/04/2022

Advisers will have to provide customers with suitable product options from at least three different providers for each class of insurance or takaful business being recommended.

ESG / Sustainability

Malaysia Advances Work on Financial Sector Sustainability

By Manesh Samtani | 28/04/2022

A new report was released assessing current sustainability practices at FIs. Work has commenced to develop a climate disclosure guide for businesses.